AM SVOITA 1390 CHAPTER 4 FORECASTING 185 a) Plot the monthly sales data. b) Forecast January sales using each of the following: bi) Naive method. ii) A 3-month moving average. ii) A 6-month weighted average using .1; .1, 1, 2, 2, and .3. with the heaviest weights applied to the most recent months. iv) Exponential smoothing using an a = .3 and a September forecast of 18. 0 0 v) A trend projection. c) With the data given, which method would allow you to fore- cast next March's sales? PX 4. The records of Phoenix Corporation revealed the following data for the current year. Direct Material $ 84,200 Work in Process 73,150 Finished Goods 115,000 Cost of Goods Sold 133,650 Assume that Phoenix has under-applied overhead of $37.200 and that this amount is not material. The journal entry needed to adjust for the under-applied overhead amount includes: A Credit Cost of Goods Sold $37,200 Debit Cost of Goods Sold $37,200 'C. Debit Work in Process 58,456; Finished Goods $13.294; Cost of Goods Sold 15,450 D. Debit Direct Materials $7.812: Work in Process $13,176; Finished Goods $10,416; Cost of Goods Sold $12,276 E. Credit Work in Process $8.456; Finished Goods $13,294; Cost of Goods Sold S15,450 AM SVOITA 1390 CHAPTER 4 FORECASTING 185 a) Plot the monthly sales data. b) Forecast January sales using each of the following: bi) Naive method. ii) A 3-month moving average. ii) A 6-month weighted average using .1; .1, 1, 2, 2, and .3. with the heaviest weights applied to the most recent months. iv) Exponential smoothing using an a = .3 and a September forecast of 18. 0 0 v) A trend projection. c) With the data given, which method would allow you to fore- cast next March's sales? PX 4. The records of Phoenix Corporation revealed the following data for the current year. Direct Material $ 84,200 Work in Process 73,150 Finished Goods 115,000 Cost of Goods Sold 133,650 Assume that Phoenix has under-applied overhead of $37.200 and that this amount is not material. The journal entry needed to adjust for the under-applied overhead amount includes: A Credit Cost of Goods Sold $37,200 Debit Cost of Goods Sold $37,200 'C. Debit Work in Process 58,456; Finished Goods $13.294; Cost of Goods Sold 15,450 D. Debit Direct Materials $7.812: Work in Process $13,176; Finished Goods $10,416; Cost of Goods Sold $12,276 E. Credit Work in Process $8.456; Finished Goods $13,294; Cost of Goods Sold S15,450